Wednesday, Jan 26, 2022
International Finance
Real Estate

TÜV SÜD in Germany initiates US$100mn construction of its hub in IBP

TÜV SÜD, International Business Park, Singapore, Germany, Ishan Palit, Chng Kai Fong
This is the first time that TÜV SÜD is making a huge investment in real estate outside its German headquarters

TÜV SÜD, an inspection and product certification services company in Germany, today initiated its US$100mn worth construction in the International Business Park (IBP).

TÜV SÜD is constructing an eight-storey building of 18,900 square metres that will be completely ready in 2020. 600 TÜV SÜD employees including the ones from TUV SUD PSB and TUV SUD Digital Service Centre of Excellence (CoE) will be relocated to IBP. Its aim to grow into a 700 employee company will be accomplished after its completion.

TÜV SÜD board member Ishan Palit, said: “Our decision to further invest in Singapore demonstrates our confidence in this market and its aspirations for the future. Singapore is constantly innovating, and is always prepared to test new technologies and solutions to propel its Smart Nation vision.”

Chng Kai Fong, managing director at EDB, that had earlier partnered with TÜV SÜD to launch the Singapore Smart Industry Readiness Index said: “EDB looks forward to deepening the partnership with TÜV SÜD as we seek to enhance Singapore’s position as a global business and innovation centre.”

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